First Reserve Corp. Closes Second Fund

The energy-focused private-equity firm First Reserve Corp. closed its second energy infrastructure fund, known as First Reserve Energy Infrastructure Fund II LP, the company said June 16.The fund, launched eight months ago, closed at a $2.5 billion hard cap and was oversubscribed, having passed its initial $2 billion target, the firm said.The fund was backed by a group of limited partners that included new investors worldwide, the firm added.The fund will support “long-lived energy infrastructure investments” in the midstream sector, First Reserve said, noting that this will include LNG facilities....